Chehaoduo checks in $300m

Jun 14, 2021 • Robert Lavine

The SoftBank, Tencent and Shougang-backed online car retailer boosted its valuation to $10bn in a round led by H Capital.

Chehaoduo, the China-based automotive e-commerce marketplace backed by corporates SoftBank, Tencent and Shougang, has closed a $300m funding round valuing it at $10bn, DealStreetAsia has reported, citing a company WeChat post.

H Capital led the round, which also featured fellow venture capital firm Sequoia Capital China in addition to VC group IDG Capital and Chehaoduo founder and CEO Yang Haoyong. The company’s overall equity funding now stands at about $3.8bn.

Spun off by online classified listings operator Ganji in 2015,…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.

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